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CRR diktat may cost banks Rs 18,000 crore more annually

The incremental deposits with banks during this window, Sep 16 and Nov 11, were roughly Rs 3.24 lakh crore

Ishan Bakshi  |  New Delhi 

With the Reserve Bank of India (RBI) imposing an incremental cash reserve ratio (CRR) of 100 per cent on all deposits between September 16 and November 11,  2016, banks may have to potentially bear additional costs to the tune of Rs 18,110 crore annually, according to CARE Ratings. The incremental deposits with banks during this window, September 16 and November 11, were roughly Rs 3.24 lakh crore. Assuming that the distribution of these funds across demand, savings and time deposits remains the same as before, then banks are likely to incur costs of around Rs 3,110 crore on ...


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First Published: Tue, November 29 2016. 23:40 IST